Quote:
Originally Posted by spunkmaster
The GAO report that came out a couple weeks ago said the recession will end starting around August-Sept 2009. This would peg the recession end to Quarter 4 with GDP showing a modest 1.5% growth in the last 3 months of 2009.
The Banks are also projected to make a 250 Billion $$ profit for 2009 without the recession ending.
The report that came out a few days ago showed the Banks wrote off 200% more credit card losses then they actually had last quarter and about 150% more mortgage write offs then they actually had. This is what prompted Obama to announce yesterday the economy isn't as bed as they first thought !
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Ah. So the usual you mean.
Banks taking advantage of the government hand outs. Then taking the bad climate to write off more tax deductions and claim bigger loses than they really had.
Some of these CEOs need prison time.
